Financial Data and Key Metrics Changes - The company reported a GAAP net loss of $13.7 million for Q3 2025, compared to a net loss of $13.6 million in Q3 2024 [31] - Revenue for Q3 2025 was $3.4 million, an increase from $3.0 million in the comparable period [31] - Non-GAAP gross loss for the reported period was $0.3 million, compared to a gross loss of $0.2 million in the comparable period, representing a gross loss margin of approximately 8% [32] Business Line Data and Key Metrics Changes - Revenue from teleradiology services for Q3 2025 was $3.1 million, with a gross profit of $0.1 million, compared to revenue of $2.6 million and a gross profit of $0.3 million in the comparable period [32] - Revenue from the sale and deployment of imaging systems and OEM services amounted to $175,000 for the reported period, with a gross loss of $1.7 million [34] - Revenue from AI solutions for Q3 2025 was $0.1 million, with a gross loss of $1.9 million, compared to revenue of $0.4 million and a gross loss of $1.6 million in the comparable period [34] Market Data and Key Metrics Changes - The company is expanding its presence in Europe with new agreements in the Czech Republic and France, indicating rising demand for its imaging ecosystem [7][16] - The company aims to deploy 100 systems worldwide by the end of 2025, with several systems pending regulatory approval [8] Company Strategy and Development Direction - The company is focused on building a comprehensive medical imaging portfolio, increasing revenues, and accelerating its path to profitability [5] - The strategy includes reinforcing its position in the medical AI sector and deepening its foothold in the U.S. healthcare system [5] - The acquisition of VasoHealthcare IT is intended to enhance the company's AI infrastructure and customer service capabilities [10][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving over $35 million in revenues for 2026, driven by strategic partnerships and the acquisition of VasoHealthcare IT [6][38] - The company anticipates reaching EBITDA break-even on a quarterly basis in 2026 for the AI business segment and in 2027 for the overall company [30][44] Other Important Information - The company is preparing to launch its next-generation Nano-X ARC X system at the RSNA annual meeting, which is expected to enhance market penetration [9] - The company is actively engaged in clinical trials to validate the effectiveness of its imaging solutions, particularly in lung cancer detection [20] Q&A Session Summary Question: How many systems were in the field and performing scans that resulted in your revenue of $175,000? - The revenue was generated from a combination of scans and OEM services, with several systems being installed and awaiting regulatory approvals [40] Question: What types of agreements should we be thinking about in terms of those being lease versus capital sales? - The majority of agreements are expected to be MSES, with some CapEx sales anticipated [40] Question: Could you talk about how OpEx could look over the next four to six quarters? - Investment in deployment efforts, particularly sales and marketing expenses, is expected to increase, while R&D expenses may be tamed [42] Question: Could you talk about Vaso and the types of customers they currently have? - Vaso's customers are primarily medical-related, serving hospitals and imaging centers, presenting cross-selling opportunities for Nano-X [42] Question: Could you reiterate the break-even expectations for 2026 and 2027? - The AI business is expected to achieve quarterly break-even in 2026, while the ARC hardware business aims for break-even in 2027 [44][46]

Core Points - Guerbet, a global leader in medical imaging, has announced its financial agenda for 2026, detailing key publication dates for annual revenue, results, and quarterly updates [2][3] - The company generated revenue of €841 million in 2024 and invests 9% of its revenue in Research and Development [4] Publication Calendar - 2025 Annual Revenue will be published on February 05, 2026, after trading [3] - 2025 Annual Results will be published on March 11, 2026, after trading [3] - 2026 1st Quarter Revenue will be published on April 23, 2026, after trading [3] - Annual Shareholders' Meeting is scheduled for May 22, 2026 [3] - 2026 2nd Quarter Revenue will be published on July 23, 2026, after trading [3] - 2026 First Half Results will be published on September 15, 2026, after trading [3] - 2026 3rd Quarter Revenue will be published on October 22, 2026, after trading [3] Company Overview - Guerbet specializes in contrast agents and solutions for medical imaging, with over 2,905 employees worldwide [4] - The company has been a pioneer in contrast products for 98 years and operates four R&D centers in France and the United States [4]

Core Insights - Guerbet reported a revenue of €387.8 million for H1 2025, reflecting a decline of 5.4% at constant exchange rates (CER) and on a like-for-like basis, primarily due to reduced activity in France [2][5][6] - The restated EBITDA margin decreased to 12.9% from 15.4% a year earlier, indicating a decline in profitability [2][14] - The company has revised its full-year 2025 financial targets downward due to ongoing challenges in the French market and pricing pressures [18][22] Financial Performance - Group sales for H1 2025 were €387.8 million, down 7.5% compared to H1 2024, with a more significant decline in the first quarter (-7.1%) compared to the second quarter (-3.9%) [5][6] - The EMEA region's revenue was €169.6 million, down 7.7% at CER and like-for-like, while excluding France, revenue grew by 6.9% [7] - Diagnostic Imaging revenue was €334 million, down 6.8% at CER and like-for-like, while Interventional Imaging sales increased by 4.6% [8][9] Profitability and Costs - The EBITDA margin for H1 2025 was reported at 11.9%, down from 14.6% in the previous year, with operating costs tightly controlled [14] - Operating income decreased to €15.0 million, representing 3.9% of revenue, compared to 7.2% in H1 2024 [13] - Net income for the period was €1.3 million, significantly lower than €10.0 million in the previous year [13][35] Cash Flow and Debt - Free cash flow was negative at -€8.4 million but showed improvement from -€29.1 million in H1 2024, attributed to better working capital management [17] - Net debt decreased to €353.3 million from €364.9 million a year earlier, with stable gearing at 0.94 [16] Strategic Outlook - The management has taken measures to safeguard product availability and optimize the cost base while monitoring cash generation closely [20] - The company remains confident in its prospects, supported by a diversified product portfolio and strong positions in international markets [21] - The upcoming Q3 2025 revenue publication is scheduled for October 23, 2025 [24]

Financial Data and Key Metrics Changes - The company reported a GAAP net loss of $13.2 million for Q1 2025, compared to a net loss of $12.2 million in Q1 2024, reflecting an increase of $1 million largely due to a $1.1 million increase in gross loss [29] - Revenue for the reported period was $2.8 million, with a gross loss of $3 million on a GAAP basis, compared to revenue of $2.6 million and a gross loss of $2.1 million in the comparable period [29][30] - Non-GAAP gross loss for the reported period was $400,000, down from a gross profit of $600,000 in the comparable period, indicating a gross margin of approximately 15% [30] Business Line Data and Key Metrics Changes - Revenue from teleradiology services for the reported period was $2.6 million, with a gross profit of $400,000, compared to revenue of $2.4 million and a gross profit of $300,000 in the comparable period, representing a gross profit margin of approximately 17% [30] - Revenue from the sale and deployment of imaging systems and OEM services amounted to $33,000, with a gross loss of $1.6 million on a GAAP basis, compared to revenue of $47,000 and a gross loss of $400,000 in the comparable period [31] - The company's revenue from AI solutions for the reported period was $200,000, with a gross loss of $1.9 million on a GAAP basis, compared to revenue of $100,000 and a gross loss of $2 million in the comparable period [31] Market Data and Key Metrics Changes - The company has seen an increase in the number of scans performed by its systems, with an average target of seven scans per day for operational units [12] - The sales pipeline has doubled since January 2025, with the sales team handling over 1,000 leads, primarily from small and medium-sized health clinics in various countries [11][12] - The company is targeting over 100 ARC systems in various stages of deployment by the end of 2025 worldwide [12] Company Strategy and Development Direction - The company aims to improve medical imaging and enhance patient outcomes through strategic acquisitions and the integration of AI-powered imaging analysis [6][7] - The focus is on expanding the teleradiology business and AI solutions to create a comprehensive end-to-end medical imaging solution [8][9] - The company is preparing to ship its first systems to Puerto Rico and has made notable progress in forming distributor partnerships in the U.S. [15][19] Management's Comments on Operating Environment and Future Outlook - Management acknowledges recent market uncertainties but remains encouraged by the growing base of early adopters of the Nanox Arc [13] - The company expects its AI business to break even in 2026 and the ARC business to break even in 2027, with an inflection point anticipated in the second half of 2025 [61][62] - Management emphasizes the importance of clinical validation and regulatory approvals in driving future growth [23][35] Other Important Information - The company had cash, cash equivalents, restricted deposits, and marketable securities of approximately $72.9 million as of March 31, 2025 [33] - The company continues to strengthen its sales and clinical teams to support its commercialization efforts in the U.S. market [14] Q&A Session Summary Question: Can you provide details on the fleet of units expected by the end of the year? - Management indicated that the majority of units will be in the U.S., with about 15-20% in Europe and 10% in other regions, depending on regulatory approvals [40] Question: What is the pricing and reimbursement status for the second opinion services? - The second opinion service is priced at approximately $300 and is primarily a retail model, with growing business [45][46] Question: How many units are currently deployed and operational in the U.S.? - More than 20 units are currently installed, with some awaiting regulatory approvals [52] Question: When can the company expect to reach breakeven? - The AI business is expected to break even in 2026, while the ARC business is projected to break even in 2027, with an inflection point anticipated in the second half of 2025 [61][62]

Financial Data and Key Metrics Changes - The company reported a GAAP net loss of $13.2 million for Q1 2025, compared to a net loss of $12.2 million in Q1 2024, reflecting an increase of $1 million largely due to a $1.1 million increase in gross loss [27] - Revenue for Q1 2025 was $2.8 million, with a gross loss of $3 million, compared to revenue of $2.6 million and a gross loss of $2.1 million in the same period last year [27][28] - Non-GAAP gross loss for Q1 2025 was $400,000, down from a gross profit of $600,000 in Q1 2024, indicating a gross margin of approximately 15% for the reported period [28] Business Line Data and Key Metrics Changes - Revenue from teleradiology services for Q1 2025 was $2.6 million, with a gross profit of $400,000, compared to $2.4 million and a gross profit of $300,000 in Q1 2024, representing a gross profit margin of approximately 17% [28] - Revenue from imaging systems and OEM services was $33,000 with a gross loss of $1.6 million in Q1 2025, compared to revenue of $47,000 and a gross loss of $400,000 in the same period last year [29] - Revenue from AI solutions was $200,000 with a gross loss of $1.9 million in Q1 2025, compared to $100,000 and a gross loss of $2 million in Q1 2024 [29] Market Data and Key Metrics Changes - The sales pipeline has doubled since January 2025, with the sales team handling over 1,000 leads, primarily from small and medium-sized health clinics in various countries [9] - The company is targeting over 100 ARC systems in various stages of deployment by the end of 2025, with over 60 units currently in various stages of implementation [10][11] Company Strategy and Development Direction - The company aims to improve medical imaging and enhance patient outcomes through strategic acquisitions and the integration of AI-powered imaging analysis [6][7] - The focus is on expanding the commercialization of Nanox ARC and AI solutions, with a multi-pronged strategy involving direct sales, collaborations, and distributor engagements [8][12] - The company is also pursuing opportunities in the workers' compensation segment, which presents a significant potential market [14] Management's Comments on Operating Environment and Future Outlook - Management acknowledged recent market uncertainties but expressed optimism about the growing base of early adopters for Nanox ARC [11] - The company expects its AI business to break even by 2026 and the ARC business to reach breakeven by 2027, with an anticipated inflection point in the second half of 2025 [57][58] Other Important Information - The company has received FDA clearance for the Nanox Arc X, enhancing its regulatory standing [20] - The company is actively engaged in clinical trials to generate data supporting the use of Nanox Arc, which is crucial for future growth [21] Q&A Session Summary Question: Can you provide details on the fleet deployment by the end of the year? - Management indicated that the majority of units will be in the US, with about 15-20% in Europe and 10% in other regions, depending on regulatory approvals [38] Question: What is the pricing and reimbursement status for the second opinion services? - The second opinion service is priced at approximately $300 and is primarily a retail model, with growing business potential [42] Question: How many units are currently deployed and operational in the US? - More than 20 units are currently installed, with some awaiting regulatory approvals [47] Question: What is the timeline for reaching breakeven across business lines? - The teleradiology division is already profitable, while the AI business is expected to break even in 2026 and the ARC business in 2027 [56][57]